Yugocean
Valued Contributor
Riot Blockchain, a bitcoin mining company based in New York, has chosen to relocate to Texas despite the fact that the governor has not yet signed the New York Mining Ban Bill into law.
Reason
Riot Blockchain cites third-party electricity expenses in New York, also Texas offers cheaper electricity than New York. But, many detractors say that the company is leaving the State to dodge problems brought on by mounting pressure from New York regulators over environmental concerns.
Situation in Texas.
The locals of Corsicana, where Riot Blockchain plans to build a mining facility, are reportedly opposed to this at the present, according to the critics. The residents are opposed to providing electricity to mining businesses because of the intense heat in Texas, and the increased demand for electricity to power air conditioners.
It is also important to note that Texas's rising electricity demand is encouraging mining companies to build power plants, suggesting that the environment there is favourable.
Reason
Riot Blockchain cites third-party electricity expenses in New York, also Texas offers cheaper electricity than New York. But, many detractors say that the company is leaving the State to dodge problems brought on by mounting pressure from New York regulators over environmental concerns.
Situation in Texas.
The locals of Corsicana, where Riot Blockchain plans to build a mining facility, are reportedly opposed to this at the present, according to the critics. The residents are opposed to providing electricity to mining businesses because of the intense heat in Texas, and the increased demand for electricity to power air conditioners.
It is also important to note that Texas's rising electricity demand is encouraging mining companies to build power plants, suggesting that the environment there is favourable.
